Posts Tagged ‘bank of canada’

Canadian Dollar Posed for Breakout, Although in Overbought Territory

by Christopher Lemieuxon July 3, 2014 6:25 pm BST
The Canadian dollar futures is poised for a breakout as price action buds against price resistance at .9400, after the loonie picked up demand after the US dollar momentum faded after today’s non-farm payrolls report. The US Labor Department data showed that 288,000 jobs were added in June. Mark Chandler, head of Canadian fixed-income at […]

Loonie Strengthens Against Greenback; USDCAD Testing Channel Support

by Christopher Lemieuxon June 12, 2014 3:18 am BST
The Canadian dollar strengthened against the US dollar, pushing the exchange rate through 1.0900. Commodity linked currencies have seen support over the recent week, and crude’s challenge of $105 per barrel has helped the loonie firm up against the greenback. Darcy Brown, managing director at Capital Markets Trading, said “the commodities-based currencies are more or […]

USDCAD Up Three Consecutive Sessions Off Support; BoC Leaves Rate Level

by Christopher Lemieuxon June 4, 2014 8:39 pm BST
Today, the Bank of Canada (BoC) has kept its benchmark interest rate at one percent, which matched the general consensus. The central bank said low inflation still remained a large concern, even though consumer prices have ticked higher recently. The BoC said in a statement, “weighing recent higher inflation readings against slightly increased risks to […]

BoE Still Faces FX Scrutiny; Can Carney Dissolve Hostility?

by Christopher Lemieuxon March 9, 2014 2:53 pm BST
It has come to light that the Bank of England (BoE) knew to some degree about manipulation in the foreign-exchange markets by the largest financial institutions in the world. Two BoE officials, including the central bank’s chief FX dealer, have been alleged to condone these unsavory practices, including order front-running to reduce risk, by traders […]